David Tepper
Appaloosa LP
David Tepper (Appaloosa LP) discloses a $5.93B portfolio across 31 US-listed positions in the latest 13F filing (2026Q1, filed May 15, 2026). The largest holding is AMZN at 15.2% of the book. The biggest move of the quarter: added 98% to the AMZN share count (position now $900M). Latticework's clone backtest puts this 13F book at +2.3%/yr vs SPY over 10.0 years.
About David Tepper
David Tepper founded Appaloosa Management in 1993 after leaving Goldman Sachs, where he ran the high-yield desk, and built his reputation on distressed-debt trades that required conviction at moments of maximum institutional panic — most notably large positions in the bank debt and equity of Ford and Marconi during the early-2000s distress cycle, and a celebrated long in U.S. bank preferred stocks in early 2009 that proved enormously profitable as the government signaled it would not let the major banks fail. Appaloosa's 13F reflects a concentrated, roughly 30-position equity book — top-five names currently account for nearly half the disclosed long equity portfolio — but the fund operates as a global macro-influenced hedge fund, meaning credit positions, non-U.S. equity, and short exposure sit entirely outside what the filing captures. The latticework clone has outpaced SPY by roughly 2.3% annualized over the past decade, a reasonable signal that the long-equity sleeve carries genuine alpha, though readers should weight the filing accordingly: what's disclosed is a partial view of a substantially more complex book.
2026Q1 brief
David Tepper's Appaloosa ran a $5.93B book through a striking pivot: AMZN nearly doubled to become the top position at 15.2% of portfolio, while UBER surged 242% to 7.7% — together signaling a sharp rotation into large-cap secular growth with AI/logistics optionality. The AI infrastructure theme deepens with VST (Vistra, up 114% to 5.1%) and the new SNDK position (3.0%), while EWY (South Korea ETF, +28% to 5.0%) and a maintained TSM (7.6%) and MU (9.5%) cluster suggest Tepper remains structurally long the semiconductor supply chain feeding AI demand. On the trim side, BABA was cut ~33% to 7.3% and PDD nearly halved to 1.6%, indicating reduced conviction in China consumer names despite the BIDU add — a notable internal contradiction worth monitoring. The complete exits from airlines AAL and UAL close a cyclical trade that clearly ran its course. Watch whether Tepper continues building the U.S. AI infrastructure cluster (VST, AMZN, MU) at the expense of the remaining China book in Q2.
AI-generated. Not investment advice.
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Holdings (31) · click any column to sort
| #↑ | Ticker | Issuer | % Port. | This Q | History | Value |
|---|---|---|---|---|---|---|
| 1 | AMZN | 15.2% | $900M | |||
| 2 | MU | 9.5% | $563M | |||
| 3 | GOOG | 8.4% | $497M | |||
| 4 | UBER | 7.7% | $456M | |||
| 5 | TSM | 7.6% | $449M | |||
| 6 | BABA | 7.3% | $435M | |||
| 7 | VST | 5.1% | $304M | |||
| 8 | EWY | 5.0% | $295M | |||
| 9 | NVDA | 4.3% | $257M | |||
| 10 | NRG | 4.3% | $253M | |||
| 11 | META | 4.2% | $250M | |||
| 12 | SNDK | 3.0% | $179M | |||
| 13 | GLW | 2.6% | $154M | |||
| 14 | WHR | 1.8% | $105M | |||
| 15 | PDD | 1.6% | $92M | |||
| 16 | LRCX | 1.4% | $82M | |||
| 17 | BIDU | 1.3% | $77M | |||
| 18 | LHX | 1.2% | $68M | |||
| 19 | RTX | 1.1% | $66M | |||
| 20 | ASML | 1.1% | $65M | |||
| 21 | QCOM | 1.1% | $64M | |||
| 22 | BALL | 0.8% | $49M | |||
| 23 | AMD | 0.8% | $45M | |||
| 24 | JD | 0.7% | $39M | |||
| 25 | LYFT | 0.6% | $36M | |||
| 26 | MSFT | 0.6% | $33M | |||
| 27 | KWEB | 0.5% | $31M | |||
| 28 | ET | 0.5% | $30M | |||
| 29 | MPLX | 0.5% | $29M | |||
| 30 | UNH | 0.4% | $24M | |||
| 31 | DB | 0.1% | $8M |
- 1AMZNport15.2%val$900MAmazon.com Incthis Q +98%·29q
- 2MUport9.5%val$563MMicron Technology Incthis Q hold·35q
- 3GOOGport8.4%val$497MAlphabet Inc-cl Cthis Q hold·40q
- 4UBERport7.7%val$456MUber Technologies Incthis Q +242%·20q
- 5TSMport7.6%val$449MTaiwan Semiconductor-sp Adrthis Q hold·12q
- 6BABAport7.3%val$435MAlibaba Group Holding-sp Adrthis Q -33%·32q
- 7VSTport5.1%val$304MVistra Corpthis Q +114%·17q
- 8EWYport5.0%val$295MIshares Msci South Korea Etfthis Q +28%·7q
- 9NVDAport4.3%val$257MNvidia Corpthis Q hold·14q
- 10NRGport4.3%val$253MNrg Energy Incthis Q hold·14q
- 11METAport4.2%val$250MMeta Platforms Inc-class Athis Q -27%·39q
- 12SNDKport3.0%val$179MSandisk Corpthis Q New·—1q
- 13GLWport2.6%val$154MCorning Incthis Q -28%·6q
- 14WHRport1.8%val$105MWhirlpool Corpthis Q -50%·11q
- 15PDDport1.6%val$92MPdd Holdings Incthis Q -49%·12q
- 16LRCXport1.4%val$82MLam Research Corpthis Q hold·6q
- 17BIDUport1.3%val$77MBaidu Inc - Spon Adrthis Q +20%·13q
- 18LHXport1.2%val$68ML3harris Technologies Incthis Q -33%·5q
- 19RTXport1.1%val$66MRtx Corpthis Q -32%·4q
- 20ASMLport1.1%val$65MAsml Hldg NVthis Q -21%·12q
- 21QCOMport1.1%val$64MQualcomm Incthis Q -56%·20q
- 22BALLport0.8%val$49MBall Corpthis Q -30%·2q
- 23AMDport0.8%val$45MAdvanced Micro Devicesthis Q -32%·10q
- 24JDport0.7%val$39MJd.com Inc-adrthis Q -69%·11q
- 25LYFTport0.6%val$36MLyft Inc-athis Q -29%·9q
- 26MSFTport0.6%val$33MMicrosoft Corpthis Q -82%·25q
- 27KWEBport0.5%val$31MKranesh Csi China Internetthis Q -77%·10q
- 28ETport0.5%val$30MEnergy Transfer LPthis Q -28%·36q
- 29MPLXport0.5%val$29MMplx LPthis Q hold·22q
- 30UNHport0.4%val$24MUnitedhealth Group Incthis Q -55%·37q
- 31DBport0.1%val$8MDeutsche BK AGthis Q -92%·5q
All activity (2026Q1)
| Ticker | Issuer | Move | % Port. | Δ Shares | Value |
|---|---|---|---|---|---|
| AMZN | Amazon.com Inc | ADD | 15.2% | +98% | $900M |
| BABA | Alibaba Group Holding-sp Adr | TRIM | 7.3% | -33% | $435M |
| UBER | Uber Technologies Inc | ADD | 7.7% | +242% | $456M |
| META | Meta Platforms Inc-class A | TRIM | 4.2% | -27% | $250M |
| VST | Vistra Corp | ADD | 5.1% | +114% | $304M |
| EWY | Ishares Msci South Korea Etf | ADD | 5.0% | +28% | $295M |
| WHR | Whirlpool Corp | TRIM | 1.8% | -50% | $105M |
| MSFT | Microsoft Corp | TRIM | 0.6% | -82% | $33M |
| AAL | American Airlines Group Inc | EXIT | 3.2% | -100% | $0 |
| SNDK | Sandisk Corp | NEW | 3.0% | +100% | $179M |
| PDD | Pdd Holdings Inc | TRIM | 1.6% | -49% | $92M |
| QCOM | Qualcomm Inc | TRIM | 1.1% | -56% | $64M |
| GLW | Corning Inc | TRIM | 2.6% | -28% | $154M |
| KWEB | Kranesh Csi China Internet | TRIM | 0.5% | -77% | $31M |
| DB | Deutsche BK AG | TRIM | 0.1% | -92% | $8M |
| JD | Jd.com Inc-adr | TRIM | 0.7% | -69% | $39M |
| OC | Owens Corning | EXIT | 1.6% | -100% | $0 |
| RTX | Rtx Corp | TRIM | 1.1% | -32% | $66M |
| BIDU | Baidu Inc - Spon Adr | ADD | 1.3% | +20% | $77M |
| LHX | L3harris Technologies Inc | TRIM | 1.2% | -33% | $68M |
| ASML | Asml Hldg NV | TRIM | 1.1% | -21% | $65M |
| MHK | Mohawk Industries Inc | EXIT | 1.1% | -100% | $0 |
| LYFT | Lyft Inc-a | TRIM | 0.6% | -29% | $36M |
| AMD | Advanced Micro Devices | TRIM | 0.8% | -32% | $45M |
| UNH | Unitedhealth Group Inc | TRIM | 0.4% | -55% | $24M |
| BALL | Ball Corp | TRIM | 0.8% | -30% | $49M |
| IQV | Iqvia Holdings Inc | EXIT | 0.9% | -100% | $0 |
| UAL | United Airlines Holdings Inc | EXIT | 0.8% | -100% | $0 |
| FXI | Ishares China Large-cap Etf | EXIT | 0.6% | -100% | $0 |
| ET | Energy Transfer LP | TRIM | 0.5% | -28% | $30M |
| DAL | Delta Air Lines Inc | EXIT | 0.5% | -100% | $0 |
| GT | Goodyear Tire & Rubber CO | EXIT | 0.3% | -100% | $0 |
- ADDAMZN15.2%Amazon.com IncΔ +98%·$900M
- TRIMBABA7.3%Alibaba Group Holding-sp AdrΔ -33%·$435M
- ADDUBER7.7%Uber Technologies IncΔ +242%·$456M
- TRIMMETA4.2%Meta Platforms Inc-class AΔ -27%·$250M
- ADDVST5.1%Vistra CorpΔ +114%·$304M
- ADDEWY5.0%Ishares Msci South Korea EtfΔ +28%·$295M
- TRIMWHR1.8%Whirlpool CorpΔ -50%·$105M
- TRIMMSFT0.6%Microsoft CorpΔ -82%·$33M
- EXITAAL3.2%American Airlines Group IncΔ -100%·$0
- NEWSNDK3.0%Sandisk CorpΔ +100%·$179M
- TRIMPDD1.6%Pdd Holdings IncΔ -49%·$92M
- TRIMQCOM1.1%Qualcomm IncΔ -56%·$64M
- TRIMGLW2.6%Corning IncΔ -28%·$154M
- TRIMKWEB0.5%Kranesh Csi China InternetΔ -77%·$31M
- TRIMDB0.1%Deutsche BK AGΔ -92%·$8M
- TRIMJD0.7%Jd.com Inc-adrΔ -69%·$39M
- EXITOC1.6%Owens CorningΔ -100%·$0
- TRIMRTX1.1%Rtx CorpΔ -32%·$66M
- ADDBIDU1.3%Baidu Inc - Spon AdrΔ +20%·$77M
- TRIMLHX1.2%L3harris Technologies IncΔ -33%·$68M
- TRIMASML1.1%Asml Hldg NVΔ -21%·$65M
- EXITMHK1.1%Mohawk Industries IncΔ -100%·$0
- TRIMLYFT0.6%Lyft Inc-aΔ -29%·$36M
- TRIMAMD0.8%Advanced Micro DevicesΔ -32%·$45M
- TRIMUNH0.4%Unitedhealth Group IncΔ -55%·$24M
- TRIMBALL0.8%Ball CorpΔ -30%·$49M
- EXITIQV0.9%Iqvia Holdings IncΔ -100%·$0
- EXITUAL0.8%United Airlines Holdings IncΔ -100%·$0
- EXITFXI0.6%Ishares China Large-cap EtfΔ -100%·$0
- TRIMET0.5%Energy Transfer LPΔ -28%·$30M
- EXITDAL0.5%Delta Air Lines IncΔ -100%·$0
- EXITGT0.3%Goodyear Tire & Rubber COΔ -100%·$0
Frequently asked questions
- What stocks does David Tepper own?
- As of 2026Q1, David Tepper's 13F discloses 31 positions worth $5.93B. The top five holdings: AMZN (15.2%), MU (9.5%), GOOG (8.4%), UBER (7.7%), TSM (7.6%). 13F filings cover long US-listed equities only — cash, bonds, shorts, and non-US positions are not disclosed.
- What did David Tepper buy this quarter?
- In 2026Q1, the filing shows 1 new position and 5 additions to existing holdings. The largest positions touched by buying: AMZN, UBER, VST, EWY, SNDK.
- How big is David Tepper's portfolio?
- $5.93B across 31 positions per the latest 13F (filed May 15, 2026). The top five holdings account for 48% of the disclosed book.
Explore more
Long US equity 13F-HR filings only — no shorts, no derivatives. SEC filings at EDGAR (CIK 0001656456). Not investment advice.